Loading...
HomeMy WebLinkAbout04-29-13 IN RE: ) IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, ESTATE OF ) PENNSYLVANIA MARY B. MORRISON ) c.a ORPHANS' COURT rn c-. -0 ::r2 NO. 21-12-0276 E7, co PETITION FOR TERMINATION OF TRUST AND NOW comes the Executrix, Theresa A. Brady, by and through-bertttorneco Michael L. Bangs, Esquire, and files this Petition for Termination of Trust based upon the following: 1. The decedent, Mary B. Morrison, died on February 1, 2012 and her Last Will and Testament was submitted to probate on March 5, 2012. Attached hereto and marked as Exhibit A is a true and correct copy of the Will. 2. The Executrix has completed the estate administration for the Estate of Mary B. Morrison and is in the process of doing a First and Final Accounting so that a final distribution can be made. 3. Pursuant to Paragraph 3 of the Last Will and Testament, all the rest, residue and remainder of the Estate was to be transferred to the decedent's grandson Andrew C. Smith under the terms of the trust as set forth in that paragraph. 4. Andrew C. Smith is 20 years of age. 5. The trustee of the trust set forth in the Last Will and Testament was Susquehanna Bank. The residuary amount payable to the trustee to be held in trust from the Estate for the benefit of Andrew C. Smith is approximately$21,000.00. 6. The attorney, Michael L. Bangs, Esquire, has been in contact with Susquehanna Bank who does not wish to act as trustee because of the limited amount of funds to be available to be 1 placed in trust. Attached hereto and marked as Exhibit B is a true and correct copy of their letter declining service as the trustee. 7. As indicated, there are limited funds to be placed into trust and the trust does not serve any practical purpose given those limited funds. 8. The residuary beneficiary of the trust, should Andrew C. Smith die before he turns 30 years of age, is his mother, Vickie J. Smith pursuant to Paragraph 4. 9. Vickie J. Smith has no objection to the termination of the trust such that her son Andrew C. Smith should receive the residuary amounts due him under the Last Will and Testament in one payment outside of the trust. Attached hereto and marked as Exhibit C is a joinder by Vickie J. Smith indicating her desire to have the trust terminated to permit the sums remaining in the Estate to be distributed to her son Andrew C. Smith outright. WHEREFORE, the Executrix requests this Honorable Court to do the following: A. Terminate the trust set forth in the decedent's Last Will and Testament; B. Permit the Executrix to distribute the residuary estate directly to the beneficiary of the trust, Andrew C. Smith. Respectfully submitted, BANGS LAW OFFICE, LLC 'MICHAEL L. BANGS Attorney for Theresa Brady 429 South 18th Street Camp Hill, PA 17011 (717) 730-7310 Supreme Court ID #41263 2 VERIFICATION I hereby verify that the statements made in the foregoing document are true and correct. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S. Section 4904, relating to unsworn falsification to authorities. 4 Dater 0� T'IIERES.z Bl IZ ICY 3 LAsT W&L AmD TWTAmENT 1, MARY B. MORFUSON, of 3422.Bedford Drive, Camp Hill, Cumberland County, Pennsylvania 17011, do hereby make, publish and declare this to be my last will and testament, hereby revoking all wills heretofore made by me. 1. I direct my personal representative to pay all of my debts, funeral and administrative expenses as soon as convenient after my decease. I direct that all inheritance taxes imposed or payable by reason of my death and interest and penalties thereon with respect to all property, whether or not such property passes under this Will, shall be paid by my personal representative out of my estate. 2. 1 authorize and empower my personal representative to sell any realty and/or personalty owned by me at my death and not specifically devised or bequeathed herein, at public or private sale or sales and to give good and sufficient deeds and/or bills of sale therefore, in fee simple, as I could do if living. My representative is authorized and empowered to engage in any business in which I may be engaged at my death, for such period of time after my death as seems expedient to said representative. 3. 1 give, devise and bequeath all of my estate of whatever nature and wherever situate as follows: :7j A. The sum of$10,500.00 to Theresa A. Brady; M I :0 Ln 7Z B. The sum of$10,500.00 to Vickie J. Smith; . J The VuIr"'. Of $11 00,.550.0.O.C.) to S. Y4 anaaceIK; 00 D. The sum of$1,000.00 to Benjamin Morrison Taylor, E. The sum of$1,000.00 to Andrew C. Smith, F. The sum of$500.00 to Good Shepard School Library for general purposes; G. My stamp and coin collections to Andrew C. Smith, and all the H. Rest, residue and remainder to Andrew C. Smith to be held in trust by the hereinafter-mentioned trustee according to the following terms and conditions: The trustee, as well as my personal representative, is hereby authorized to retain, unconverted, any property, real or personal, that I may own at my death and shall be under no duty to convert it into legal investments. The trustee shall have the power and authority to sell, transfer, convey, invest and reinvest and to pay over the net income of the trust property, to or for the use of Andrew C, Smith or to accumulate it in the sole discretion of the trustee. My primary object is to insure the support, maintenance, education and medical care of Andrew C, Smith until he reaches the age of thirty (30) years, However, the trustee shall make the following distributions to Andrew C. Smith: A. The sum of$3,000.00 at the beginning of each school year he is in college, for a period of up to four years; B. The sum of$2,000.00 on his 213' birthday; C. One-half (1/2) of whatever remains of income or principal of the trust estate when he reaches the age of twenty-five (25) years; and D. Whatever remains of income or principal of the trust estate when he reaches the age of thirty (30) years. 4. In the event that Andrew C. Smith does not survive me by a period of sixty (60) days or if he predeceases the termination of the trust provided above, then I give, devise and bequeath his share of my estate, or whatever remains thereof, to Vickie J. Smith. 5. 1 appoint Susquehanna Bank, or its successor, to be the trustee of any trust created herein. 6. 1 nominate and appoint my cousin, Theresa A. Brady, to be the personal representative of my estate, to serve without bond. If she cannot or does not serve, then I appoint Vickie J. Smith to the substitute personal representative, with the same powers and also without bond. 7. 1 suggest that my personal representative retain the services of Harold S. Irwin, III, Carlisle, Pennsylvania in the settlement of my estate. IN WITNESS WHEREOF, I have hereunto set my hand and seal this ;� day of December, 2010. t , , .-� (SEAL) WAY B. MORRISON L Sign , published sealed and declared by the above-named person as and for a last will and testament, ur nt in presence, who at said person's request, in said person's presence and in the presence of each other have hereunto set our names as supscribing witnesses. p�c�w�[a�1EM 111 ISON HAVEN H. AN and AMY J. MAZUTIS, the testatrix and WE, MARY S. MORR , whose names are signed to the foregoing instrument, being first duly witnesses respectively. hereb declare to the undersigned authority that the testatrix signed and executed the swom, do y instrument as her last will and that she had signed willingly, and that she executed it as her free act for the purpose herein expressed, and that each of the witnesses, in the and voluntary P presence and hearing of the testatrix, signed the will as a wftrwm and t#uV to the best of their knowledge the testatrix was ' at that time, eighteen yam of older,or o of sound mind and , under no constraint or undue influence. W ►PL MbRRISON 3 r, i HA AND A �pW4*ALTH OF PENNSYLVANIA :ss: COUNTY OF CUMBERLAND ANDREWS and AMY J. Subscribed, sworn to and acknowledged before me by MARY H. MORRISON, the testator herein, and subscribed and sworn to before me by HAVEN MA UTIS,witnesses, this SC `-day of December, ���• Notary is , NWFALTH OF pENNSYLVAN a NOTARIAL SEAL lic }}mod S.Irwin Iii,Esq,Nosy Pub Carlisle,Cumberland County � Myconvnissione i February 06,2011 Susquehanna '.00* Susquehanna Wealth Management° Susquehanna Trust&Investment Company 1570 Manheim Pike PO Box 3300 Lancaster,PA 17604-3300 Tel 717.735.8759 Fax 717.735.3834 April 9, 2013 Email:Steve.Wenzel @susquehanna.net Michael L. Bangs, Esquire Bangs Law Office, LLC 429 South 18th Street Camp Hill PA 17011 RE: Estate of Mary B. Morrison /Trust for Andrew C. Smith Dear Mr. Bangs: This letter is to confirm our conversation wherein I indicated that Susquehanna Bank (now by conversion known as Susquehanna Trust & Investment Company) does not desire to serve as the trustee for Andrew C. Smith pursuant to the terms of the Last Will and Testament of Mary B. Morrison. The unwillingness of Susquehanna Trust & Investment Company to serve as trustee is because the value of the trust property, which you estimate to be in the amount of $21,000.00 is insufficient to justify the costs of administration of the trust by Susquehanna Trust & Investment Company. Should you need anything further on this, please advise me. Very truly yours, Stephen E. Wenzel Vice President JOINDER r I, VICKIE J. SMITH,am the mother of Andrew C. Smith and potentially the residuary beneficiary under the trust of Mary B. Morrison in the event that my son would die before the termination of the trust. I have reviewed the Petition for Termination of Trust and join in that Petition and request that the remaining estate be distributed to my son Andrew C. Smith outright and not subject to trust. Date: I J 3 VICKIE J. SMITH